Tuesday, January 19, 2010

Gold & Sullivan Have It (Maybe)

It seems that David Sullivan and David Gold will take a 50% share in West Ham. The deal will reportedly involve an option to buy the 50% remaining shares at a later date.

The Guardian are reporting that the deal will see Gold & Sullivan service West Ham's short-term debt and make money available for signings this month. Karren Brady is widely tipped to replace current CEO Scott Duxbury.

Malaysian businessman Tony Fernandes said on Twitter last night,

""Deal lost on west ham. Hopefully new owners protect what's good. We gave awesome deal and new ideas to rejuvenate a club and bring excitment [sic]."

Most of the media are predicting an announcement today, although The Guardian and some of the other newspapers claim that Intermarket are still hoping to persuade West Ham's owners of the benefits of their offer.

The Express say that Intermarket are believed to have finally come up with a £100m cash offer for full control. They say a spokesman for the group said he expected talks between Intermarket and Rothschilds to last “late into the night”.

The Mail however are confident that Gold & Sullivan have already completed their partial takeover. They say the duo have paid £105million for their 50%.

The Mail say that Zola will stay on as manager. Sullivan and Gold will also push ahead with plans to relocate from Upton Park to the Olympic Stadium after the London Games in 2012.

The Sun also claim that Gold & Sullivan will be unveiled as the new owners this lunchtime.

The Telegraph say the deal was agreed at 10.30pm and say that although Sullivan has bought 50% of the club he will be given a controlling interest. The Telegraph say Brady will work two days a week at West Ham alongside chief executive, Scott Duxbury.